Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In this section, unless the contrary intention appears:
"index number" , in relation to a quarter, means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that quarter.
"relevant rate" means the rate specified in paragraph 30(2)(a), (b) or (c).
"year to which this section applies" means 1990 and each subsequent year.
(2) Subject to subsection (3), if at any time, whether before or after the commencement of this section, the Australian Statistician has published or publishes an index number in respect of a quarter in substitution for an index number previously published by the Australian Statistician in respect of that quarter, the publication of the later index number shall be disregarded for the purposes of this section.
(3) If at any time, whether before or after the commencement of this section, the Australian Statistician has changed or changes the index reference period for the consumer price index, then, for the purposes of the application of this section after the change took place or takes place, regard shall be had only to index numbers published in terms of the new index reference period.
(4) Where the factor worked out under subsection (5) in relation to a relevant rate in relation to a year to which this section applies is greater than 1, this Act, and any Act that refers to this Act, have effect as if for that relevant rate there were substituted, on the first day of that year:
(a) subject to paragraph (b)--the rate worked out by multiplying by that factor:
(i) where subparagraph (ii) does not apply--the relevant rate; or
(ii) if, because of another application or other applications of this section, this Act has had effect as if another rate was substituted, or other rates were successively substituted, for the relevant rate--the substituted rate or the last substituted rate, as the case may be;
(b) where the rate worked out under paragraph (a) is not a multiple of 10 cents per fortnight--a rate equal to:
(i) if the rate so worked out exceeds the next lower rate that is such a multiple by 5 cents per fortnight or more--the next highest rate that is such a multiple; or
(ii) if the rate so worked out exceeds the next lower rate that is such a multiple by less than 5 cents per fortnight--that next lower rate.
(5) The factor to be worked out for the purposes of subsection (4) in relation to a year to which this section applies is:
(a) in relation to 1990--the number, calculated to 3 decimal places, worked out by dividing the index number for the June quarter 1989 by the index number for the June quarter 1988;
(b) in relation to each subsequent year--the number, calculated to 3 decimal places, worked out by dividing the index number for the last preceding June quarter by the highest index number in respect of an earlier June quarter, not being a June quarter that occurred before 1989; or
(c) if the number worked out under paragraph (a) or (b) would, if it were calculated to 4 decimal places, end in a number greater than 4--the number so worked out increased by 0.001.
(6) Where, because of the application of this section, this Act has effect as if another rate were substituted for a relevant rate on the first day of a year, the substitution, in so far as it affects instalments of pensions, benefits and allowances under this Act, has effect in relation to every instalment of such a pension, benefit or allowance that falls due on or after the first day of that year.